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News

Alterna Tax Asset Group Preps $101M Tax Lien ABS

Alterna Tax Asset Group plans to issue $101 million of securities backed by property tax lien certificates from municipalities within the states of Florida, Illinois, Maryland, New Jersey and New York.

SolarCity Scores an ABS Hat-trick

For its third securitization, SolarCity plans to issue $201 million of securities backed by solar assets.

Volkswagen Prices $129M-Equivalent China Auto Loan ABS

The CNY699 million ($113 million) of class A notes were sold with a fixed interest rate of 4.80% and the CNY44 million of class B notes were sold with a fixed interest rate of 8.08%.

GE Prices Upsized $675M of Dealer Floorplan Notes

The single issue of class A notes to be issued from the GE Dealer Floorplan Master Note Trust have a weighted average life of 2.99 years; they yield 38 basis points over one-month Libor.

JG Wentworth Plans $221M Structured Settlement ABS

Moody’s Investor Service has assigned preliminary rating to the deal, JGWPT XXXII, Series 2014-2. The capital structure will offer $196.8 million of class A notes, rated ‘Aaa’; and $24.6 million of class B notes rated ‘Baa2’.

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Articles

Volcker Rule Extension for CLOs Comes with Big Catch

A two-year extension to the deadline for banks to conform CLO holdings to the Volcker Rule doesn't apply to all, the Federal Reserve says.

CLO Pros See No Letup in Demand

Despite regulatory hurdles, participants see nothing in the way of issuance reaching $60 billion to $70 billion this year.

Babson CEO Finke: CLOs Often Unfairly Judged

Finke says the industry needs to address the lack of understanding about its performance and role in the economy.

Cutting Solar Funding Costs

Two academics argue that aggreggating standardized assets is key to solar securitization, which can meaningfully reduce funding costs for developers.

Still No Volcker Relief for CLOs

Despite pressure from Capitol Hill, regulators are disinclined to allow banks to hold collateralized loan obligations backed by bonds.

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Single-Asset, Single-Loan CMBS is Back

Securitization of very large commercial mortgages is picking up again, and so is the leverage in some of these deals.

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